Short Interest in Alumis Inc. (NASDAQ:ALMS) Increases By 25.3%

Alumis Inc. (NASDAQ:ALMS) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 11,230,693 shares, a growth of 25.3% from the March 15th total of 8,963,277 shares. Approximately 14.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,042,725 shares, the short-interest ratio is presently 5.5 days.

Analyst Upgrades and Downgrades

ALMS has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on Alumis from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Wells Fargo & Company lifted their price target on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Loop Capital set a $37.00 target price on shares of Alumis in a research report on Wednesday, January 21st. Finally, Leerink Partners lifted their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Alumis Stock Up 3.5%

Shares of Alumis stock opened at $25.00 on Friday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -8.17 and a beta of -0.64. The company’s fifty day moving average is $25.65 and its 200 day moving average is $16.22. Alumis has a twelve month low of $2.76 and a twelve month high of $30.60.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.05). Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. The company had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. As a group, equities analysts anticipate that Alumis will post -8.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Alumis in the first quarter valued at $190,000. Virtu Financial LLC bought a new stake in shares of Alumis during the 4th quarter valued at about $491,000. Invesco Ltd. boosted its position in shares of Alumis by 225.6% during the 4th quarter. Invesco Ltd. now owns 421,819 shares of the company’s stock valued at $4,117,000 after purchasing an additional 292,250 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Alumis during the 4th quarter valued at about $146,000. Finally, Virtus Investment Advisers LLC bought a new stake in shares of Alumis during the 4th quarter valued at about $226,000.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.